Evercore ISI Cuts EastGroup Properties (NYSE:EGP) Price Target to $179.00

Key Points

• Evercore ISI has reduced the price target for EastGroup Properties (NYSE: EGP) from $180.00 to $179.00, maintaining an "in-line" rating for the stock.
• Currently, EastGroup Properties has a consensus rating of "Moderate Buy" with a target price averaging $188.31 according to market analysts.
• The real estate investment trust recently reported $2.21 EPS for the last quarter, slightly exceeding analysts' consensus estimate of $2.20.

EastGroup Properties (NYSE:EGP - Get Free Report) had its target price dropped by research analysts at Evercore ISI from $180.00 to $179.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price would indicate a potential upside of 4.53% from the stock's previous close.

A number of other research firms have also recently commented on EGP. Wells Fargo & Company set a $215.00 target price on EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Morgan Stanley increased their target price on shares of EastGroup Properties from $170.00 to $178.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 9th. Royal Bank Of Canada dropped their price objective on EastGroup Properties from $183.00 to $182.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 29th. Cantor Fitzgerald began coverage on EastGroup Properties in a report on Wednesday. They set an "overweight" rating and a $190.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of EastGroup Properties in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.31.

EastGroup Properties Stock Up 0.6%

EastGroup Properties stock opened at $171.24 on Monday. EastGroup Properties has a fifty-two week low of $137.67 and a fifty-two week high of $188.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.16 and a current ratio of 0.16. The firm's 50-day simple moving average is $165.97 and its 200 day simple moving average is $166.51. The stock has a market cap of $9.13 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 3.49 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $2.20 by $0.01. The firm had revenue of $177.29 million for the quarter, compared to analysts' expectations of $175.80 million. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 EPS. EastGroup Properties has set its Q3 2025 guidance at 2.220-2.300 EPS. FY 2025 guidance at 8.890-9.030 EPS. Research analysts predict that EastGroup Properties will post 8.94 EPS for the current fiscal year.

Institutional Trading of EastGroup Properties

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of EastGroup Properties by 24.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,684 shares of the real estate investment trust's stock valued at $270,000 after purchasing an additional 334 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in EastGroup Properties by 38.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,362 shares of the real estate investment trust's stock worth $416,000 after buying an additional 662 shares in the last quarter. UMB Bank n.a. increased its stake in EastGroup Properties by 28.7% in the 1st quarter. UMB Bank n.a. now owns 1,951 shares of the real estate investment trust's stock worth $344,000 after acquiring an additional 435 shares during the last quarter. Tounjian Advisory Partners LLC purchased a new stake in shares of EastGroup Properties in the 1st quarter valued at about $319,000. Finally, Yousif Capital Management LLC boosted its position in shares of EastGroup Properties by 2.6% during the 1st quarter. Yousif Capital Management LLC now owns 19,440 shares of the real estate investment trust's stock valued at $3,424,000 after acquiring an additional 489 shares during the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

About EastGroup Properties

EastGroup Properties, Inc NYSE: EGP, a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

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